“Trouble is, 23 of them are similar in design
to those currently failing in Japan. In the short-term,
investors would be wise to steer clear of any nuclear
stocks like uranium producers Cameco (NYSE: CCJ, Stock
Forum) and USEC (NYSE: USU, Stock Forum) at least until
we see how the fluid events in Japan play out.

“The bottom line is this: Don’t buy these
stocks now, in hopes of a contrarian bounce. In the
short term, we could see more pullbacks and increased
volatility as the situation unfolds.

“However, once the situation settles, these stocks
(and others) could offer excellent buying opportunities,
as there’s no question that nuclear power will
continue to play a significant role in the world’s
electrical power generation equation.”